Intel Corp

AAA |

Disappointing earnings from two of the tech industry's bellwethers, Yahoo! and Intel, played a significant role in pushing the Nasdaq lower today. These worse-than-anticipated earnings could be a sign of things to come in the industry as other tech companies are set to release their earnings over the coming days/weeks. As you can see from the chart below, Intel shares were pushed substantially lower on extremely heavy volume toward the support near $22.50. We'd expect to see Intel shares head higher from here and try to fill today's large gap, but this outlook will change in the event we see the shares close below the $22.50 support.